Menu visibility control

Video

Events

Startup Surgery

Most Recent

Tech City Voices

Spring Budget 2017: The key takeaways for tech entrepreneurs

News

Top tech stats: Job automation, driverless cars and much more

News

Startup Weekly: Nesta’s £5m prize fund, Digital Catapult and Seedcamp’s VR cohort and much more

Press Releases

Starling Bank unveils beta as it begins roll out to first customers
VentureFounders surpasses £40m funding mark in 2 years of operation
Software testing leader TestPlant appoints Dr. John Bates as CEO

AI-powered savings platform ABAKA gets £520,000 in Seed funding

photo-fahd-full
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

ABAKA, an AI-powered savings platform, has received £520,000 in Seed funding in a round led by Anthemis Exponential Ventures.

The London-based company seeks to offer employees an easy and mobile-first way to manage their pensions.

According to a statement, the money will be used to expand ABAKA’s team and to support its launch in the UK.

Marvel raises £4m, Microsoft’s acquisition of LinkedIn is approved & more in the Week in Tech

Fahd Rachidy, founder and CEO of ABAKA, spoke about the ‘radical change’ taking place in the way in which people interact with their finances.

“Individuals are being given increased freedom, which brings with it the increased responsibility of managing their own pensions and savings. ABAKA helps with these decisions, deepens our understanding of complicated processes and allows us to gain better control of our money, all within our day-to-day lives,” said Rachidy.

ABAKA’s AI advisor is powered by deep learning neural networks and uses tailored experience to group all sorts of financial accounts in the same place. It then analyses the users’ finances and seeks to provide customised guidance based on its findings.

Tom Ryan, partner at Anthemis Group, added: “A financially secure employee makes for a contented employer and ultimately a successful work environment. The team at ABAKA has found an innovative way to take the pain out of a massive responsibility for those in today’s workforce. We are excited to support ABAKA as they develop their solution.”

Enter your e-mail address to receive updates straight to your inbox

* indicates required
Send me news on...
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

Editor's picks

Big Ben Spring Budget 2017

Spring Budget 2017: The key takeaways for tech entrepreneurs
posted 12 hours ago

jobs automation top tech stats

Top tech stats: Job automation, driverless cars and much more
posted on March 25, 2017

Startup Weekly

Startup Weekly: Nesta’s £5m prize fund, Digital Catapult and Seedcamp’s VR cohort and much more
posted on March 24, 2017

London skyline

FinTech startup Quantexa lands $3.3m Series A led by Albion Ventures and HSBC
posted on March 24, 2017

The North of England

The top tech hubs in the North of England
posted on March 24, 2017

TWIT Emily 23.03.17

A $30.4m Series B, a £120m AI fund, a Mario Kart hack and more in The Week in Tech
posted on March 24, 2017